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Jamie Dimon: US economy is doing fine

JPMorgan Chase CEO Jamie Dimon tells CNN's Christiane Amanpour that the economy going into 2019 is very strong but that concerns like Brexit and trade are affecting confidence.

Posted: Nov 6, 2018 6:59 PM
Updated: Nov 6, 2018 7:33 PM

Jamie Dimon thinks the US economy is doing just fine -- and it could get even better.

The chairman and CEO of JPMorgan Chase, (JPM) the nation's largest bank, disagrees with economists predicting an imminent recession. Some believe the economy will turn south because of a trade war with China and rising interest rates.

"There will be another recession. It doesn't mean it has to be early in 2019. It may very well be 2020, 2021," he said in an interview from Paris with CNN's Christina Amanpour. "The American economy is still doing quite well. And it may very well be accelerating. Unemployment is going to hit probably a post-war low sometime in the next 12 months."

Unemployment remained at 3.7% according to a government report released Friday. That matches a 49-year low.

Dimon was in France to announce a $30 million investment into Seine-Saint-Denis, one of France's poorest districts. He aid global stock markets would be hurt by issues like a trade war between the United States and China and Brexit in Europe. But the economy itself is strong enough that it "may not be derailed by a little bit of short term negative news."

President Donald Trump deserves some of the credit for the economic growth, Dimon said. He pointed to the administration's moves to lower corporate taxes and eliminate regulations.

But the bank chief said he doesn't like Trump's approach to dealing with China, particularly the threat and use of tariffs. Dimon agrees, however, that issues need to be negotiated with China.

"I would prefer private negotiations. I hope that president's strategy works, particularly with China," he said.

Dimon said he regrets getting into a spat with Trump when he said earlier this year that "I think I could beat Trump. I'm as tough as he is, I'm smarter than he is. I would be fine. He could punch me all he wants, it wouldn't work with me. I'd fight right back."

Trump responded with tweets criticizing Dimon, saying he didn't have the smarts to be president. Dimon told Amanpour that making the claim he did was a mistake.

"I wish I hadn't said it," he said. "I don't want to be involved in macho tit for tat with anyone. I want to be serious about policy. I regret having said it. That was me acting like a child."

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 261167

Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
Hinds16687329
Harrison14050202
Rankin11102217
Jackson10729188
Lee9014143
Madison8495168
Jones6607114
Forrest6135122
Lauderdale6067192
Lowndes5490120
Lafayette511794
Lamar499865
Washington4904125
Bolivar4087109
Oktibbeha403581
Panola380981
Pontotoc374757
Monroe3651106
Warren3649103
Union353263
Marshall352069
Neshoba3464154
Pearl River3422105
Leflore3090109
Lincoln304287
Sunflower290373
Hancock288461
Tate279062
Alcorn270754
Pike268180
Itawamba266662
Scott256048
Yazoo253756
Prentiss251153
Copiah247649
Tippah247550
Coahoma245954
Simpson241471
Leake236167
Grenada222471
Marion220273
Covington219072
Adams212370
Wayne208432
Winston205870
George203539
Newton197346
Attala196461
Tishomingo193861
Chickasaw188444
Jasper177838
Holmes171368
Clay164237
Tallahatchie155635
Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
Amite100826
Webster95424
Tunica88221
Claiborne87825
Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
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Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
Cullman8203108
Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
Bullock102228
Perry99118
Conecuh96821
Sumter90026
Greene76823
Coosa63215
Choctaw51724
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